Schemes to promote BHIM app soon, says Arun Jaitley

NEW DELHI: The government will launch two schemes to promote the use of BHIM app to promote digital transactions, Finance Minister Arun Jaitley Wednesday said while unveiling the Union Budget 2017-18 in the Lok Sabha.

1.25 crore people have adopted the BHIM app. BHIM app to unleash power of mobile phones and financial inclusion. The government will launch two new schemes to promote the use of BHIM app, Jaitley said in his budget speech.

Aadhaar Pay, according to Jaitley will be launched shortly, for those who don't have phones.

The government is also planning to establish 20 lakh Aadhaar-based PoS (point of sale), as a part of merchant-enabled system, the finance minister said.

Jaitley also proposed to cut down taxes on PoS machines and ATM machines and tax corrections will be made to encourage domestic manufacturing and cashless transactions.

In early January, BHIM mobile app was launched by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI).